There are more than eleven thousand cryptocurrencies in circulation, which makes it difficult for first-time investors to select the best cryptocurrency to invest in. If you are going through this article this means you are looking for the best digital currency to invest in and gain maximum profit in long term and short term as well. Unlike other assets, it is difficult to analyze the fundamentals of this crypto market as it is so new, so in this article, we have shortlisted the top 5 cryptocurrencies to buy and hold.
5 Best cryptocurrencies to buy and hold
Bitcoin also known as digital gold is the first and most popular cryptocurrency and ranks first in terms of market capitalization and price. This digital currency was created in the year 2009 by Satoshi Nakamoto. BTC is a decentralized system that records transactions in a distributed ledger called a blockchain. Bitcoin is one of the best digital currencies to invest with a market cap of over $845B and a price close to 42,340 USD. Furthermore, as compared to other coins it has fewer risks and high returns so if you are a new investor you can surely invest and hold this coin.
BTC’s price in 2016 was just $500; by September 2021, it had risen to over $42,340, a gain of almost 8468%.
This cryptocurrency was launched by Russian Programmer Vitalik Buterin in the year 2015. This cryptocurrency is one of the best digital assets to invest with a market cap of the market cap of about $351 billion and a price of $2,905.5. What makes it the best cryptocurrency to invest in is its smart contracts which are much better than any other cryptocurrency available in the market.
Binance Coin was launched in the year 2017 at its starting phase it used to work on Ethereum’s blockchain network. Currently, this cryptocurrency is managed by Binance Exchange, which is the largest cryptocurrency exchange in the world in terms of the daily trading volume.
Binance coin price in the year 2017 was just $0.10; by September 2021, it had risen to over $435.58, a gain of almost 435,000% with a market cap of 57B USD. This coin has expanded its network to various applications for payments, booking a trip, and various other platforms and consolidated its network, which makes it the best digital currency to invest in for the long as well as short term.
This digital currency was launched by one of the co-founders of Ethereum Charles Hoskinson. It is one of the most stable cryptocurrencies in the market and always ranks in the top 5 digital currencies with a market cap of around 73B USD and a price of around 3$. Cardano is a proof-of-stake blockchain platform that gives it a bonus over other cryptocurrencies as it is eco-friendly. What gives this crypto a boost is a future possibility of handling smart contracts which were launched in September.
ADA price in 2017 was just $0.02; by September 2021, it had risen to over $2.089, a gain of almost 10,445%.
Dogecoin was launched in the year 2013 as a joke, the main purpose of Dogecoin creation was to satirize the buzz around altcoins by making the doge meme into a cryptocurrency for investment. The joke soon took a turn after tweets celebrities and billionaires like Elon Musk and now Dogecoin is one of the prominent digital currencies in the market with a market cap of $40 billion and currently priced at 0.21 dollars.
As compared to other blockchains network Dogecoin has faster transactions, with 1-minute block intervals. Since there is no limit to the supply of this coin like Bitcoin and any other cryptocurrency, Dogecoin can inflate infinitely. Launched in 2017, DOGE’s price started at $0.0002. By September 2021, its price reached $0.22, a gain of 100,000 %.
Disclaimer: This article is not a recommendation by mpblogs to invest in cryptocurrencies. We would advise you to do market research before buying any digital currency. Price and market cap may fluctuate.